A convincing majority of 29 deputies in the 42-seat House of Representatives voted in favour of Spiric as the country's new prime minister.
Spiric, 50, is a prominent member of the Serb Party of Independent Social Democrats (SNSD) of Milorad Dodik, a long-time member of parliament, and an economics professor at the University of Banja Luka.
He is expected to nominate ministerial candidates by the end of the week and submit his proposal to relevant state bodies for vetting.
Spiric's appointment came after the House chose three rotating speakers on Wednesday, confirming the functioning of a new ruling coalition agreed earlier this month by seven political parties.
In his address, Spiric said that during his term in office he would focus on the economic and political stabilisation of the country by continuing constitutional and police reforms, attracting foreign investment and reducing unemployment.
He announced resolute steps to achieve full cooperation with the Hague war crimes tribunal and stronger efforts to ensure that Bosnia-Herzegovina became a full member of NATO and a candidate for EU membership.
Spiric said that his government would also deal with the remaining outstanding issues with neighbouring countries. As regards Croatia, he explicitly mentioned property-related issues and the right of Croatian Serb refugees now living in Bosnia-Herzegovina to their property in Croatia.